Precession is a change in the orientation of the rotational axis of a rotating body. In an appropriate reference frame it can be defined as a change in the first Euler angle, whereas the third Euler angle defines the rotation itself. In other words, if the axis of rotation of a body is itself rotating about a second axis, that body is said to be precessing about the second axis. A motion in which the second Euler angle changes is called nutation. In physics, there are two types of precession: torque-free and torque-induced.

In astronomy, precession refers to any of several slow changes in an astronomical body's rotational or orbital parameters. An important example is the steady change in the orientation of the axis of rotation of the Earth, known as the precession of the equinoxes.

 

Note:   The above text is excerpted from the Wikipedia article Precession, which has been released under the GNU Free Documentation License.